Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner Sells 1,052 Shares

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner sold 1,052 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Berkshire Hills Bancorp Price Performance

NYSE:BHLB opened at $29.35 on Friday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 20.38 and a beta of 0.88. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average is $28.86 and its two-hundred day moving average is $28.11. Berkshire Hills Bancorp, Inc. has a 12-month low of $20.50 and a 12-month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is currently 50.00%.

Institutional Trading of Berkshire Hills Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Berkshire Hills Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company’s stock valued at $76,371,000 after buying an additional 10,579 shares during the last quarter. State Street Corp increased its stake in Berkshire Hills Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after purchasing an additional 18,307 shares in the last quarter. Wellington Management Group LLP increased its stake in Berkshire Hills Bancorp by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock worth $44,815,000 after purchasing an additional 293,784 shares in the last quarter. Invesco Ltd. grew its stake in Berkshire Hills Bancorp by 20.8% during the 4th quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company’s stock valued at $36,719,000 after acquiring an additional 222,162 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $29,410,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research note on Tuesday, December 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.